You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare...


Provide a step-by-step explanation for every part.


You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence<br>intervals.<br>From a random sample of 41 business days, the mean closing price of a certain stock was $113.19. Assume the population standard deviation is $10.95.<br>The 90% confidence interval is ( ).<br>(Round to two decimal places as needed.)<br>The 95% confidence interval is ( . ).<br>(Round to two decimal places as needed.)<br>Which interval is wider? Choose the correct answer below.<br>The 95% confidence interval<br>The 90% confidence interval<br>Interpret the results.<br>A. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 37 of the 41 days, and was within the 95% confidence interval for approximately 39 of the 41 days.<br>B. You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95% interval.<br>O c. You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95% interval.<br>O D. You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper bounds of the 90% and 95% confidence intervals.<br>

Extracted text: You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. From a random sample of 41 business days, the mean closing price of a certain stock was $113.19. Assume the population standard deviation is $10.95. The 90% confidence interval is ( ). (Round to two decimal places as needed.) The 95% confidence interval is ( . ). (Round to two decimal places as needed.) Which interval is wider? Choose the correct answer below. The 95% confidence interval The 90% confidence interval Interpret the results. A. You can be certain that the closing price of the stock was within the 90% confidence interval for approximately 37 of the 41 days, and was within the 95% confidence interval for approximately 39 of the 41 days. B. You can be 90% confident that the population mean price of the stock is between the bounds of the 90% confidence interval, and 95% confident for the 95% interval. O c. You can be 90% confident that the population mean price of the stock is outside the bounds of the 90% confidence interval, and 95% confident for the 95% interval. O D. You can be certain that the population mean price of the stock is either between the lower bounds of the 90% and 95% confidence intervals or the upper bounds of the 90% and 95% confidence intervals.

Jun 01, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here